New Delhi, July 15 -- The Indian rupee opened 3 paise higher at 96.17 against the US dollar on Wednesday, 15 July, supported by softer-than-expected US inflation data, easing concerns about an imminent Federal Reserve rate hike, although gains were capped by elevated crude oil prices.

The domestic currency has remained under pressure amid escalating US-Iran tensions, which have fuelled a sharp rally in oil prices. Brent crude hovered near $86 per barrel during Asian trading, significantly higher than the level of around $70 per barrel seen just two weeks ago.

In the previous session, the rupee slipped beyond the 96-per-dollar mark despite intervention by the Reserve Bank of India (RBI) through dollar sales in both the spot and non-deliv...